Sotheby’s offers to pay sellers interest as art market struggles
Patrick Drahi-owned auction house contends with heavy debt burden in shrinking market
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Bonhams loss almost doubled to £213mn as art market slumped
UK-based auction house took hefty impairment charges and posted lower revenues for 2024
First Brands creditors reckon with dwindling chance of repayment
Upcoming asset sales are expected to yield as little as $200mn to pay off debt pile of more than $12bn
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